Mitsubishi UFJ Asset Management Co. Ltd. Buys 17,724 Shares of Cincinnati Financial Corporation $CINF

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 348,776 shares of the insurance provider’s stock after buying an additional 17,724 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Cincinnati Financial worth $55,141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CINF. Norges Bank acquired a new stake in Cincinnati Financial during the second quarter worth approximately $235,714,000. Vanguard Group Inc. lifted its holdings in Cincinnati Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after purchasing an additional 317,033 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the period. Amundi boosted its stake in Cincinnati Financial by 113.6% in the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after purchasing an additional 242,020 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after buying an additional 173,343 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CINF. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $163.98 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 3.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.30. The company’s 50 day simple moving average is $163.29 and its 200 day simple moving average is $160.42.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business posted $3.14 EPS. The company’s revenue was up 21.8% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be given a $0.94 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.